Logically the creditors/substantial holders will get "greedy" (hopefully legally) so with COP including royalty of 4.5US/lb and PoN of 7.5US/lb (possible in 2 years time).
So if they produce and sell 20Kt of nickel concentrate p.a (which is only 1% of the 2Mt consumption p.a) that means 132M USD cash positive minus capital expenditure of 20M USD, that is 112M net profit and MBN would still have 200Kt of nickel concentrate JORC resource and reserve after those 2 years (i.e a mine life of 10 years)
This means the creditors/substantial holders will get all their debt in 2 years (including all their premium payable for the interest) and their shares will be worth $1+ as MBN market capital will be worth 860M AUD (so more than double their initial investment for their debt for shares) and that is with only a P/E ratio of 7.7 (which is still consider very low) and debt free, and more importantly 7.5US/lb PoN isn't that high compared to the 9-10US/lb.......
